Question: i need the answer simple and without copying from the internet. Question 1: (4 marks) Explain why it is important to close the accounts at

i need the answer simple and without copying from the internet.

Question 1: (4 marks) Explain why it is important to close the accounts at the end of the accounting period. If a company fails to close its books, how would the preparation of financial reports be affected? (2+2=4 marks)

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